Portfolio Design Labs LLC Raises Stake in Chord Energy Co. (NASDAQ:CHRD)

Portfolio Design Labs LLC boosted its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 32.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,175 shares of the company's stock after purchasing an additional 7,165 shares during the quarter. Portfolio Design Labs LLC's holdings in Chord Energy were worth $3,411,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CHRD. Stone House Investment Management LLC bought a new stake in Chord Energy during the 3rd quarter worth approximately $26,000. UMB Bank n.a. grew its position in shares of Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company's stock valued at $30,000 after purchasing an additional 101 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Chord Energy in the fourth quarter worth $29,000. Spartan Fund Management Inc. purchased a new stake in shares of Chord Energy in the third quarter worth $34,000. Finally, Fortitude Family Office LLC bought a new stake in Chord Energy during the third quarter valued at $47,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Trading Up 0.7 %

Shares of CHRD traded up $0.74 during trading hours on Friday, hitting $110.93. The company had a trading volume of 641,472 shares, compared to its average volume of 721,197. The firm has a market cap of $6.78 billion, a P/E ratio of 5.71, a P/E/G ratio of 5.46 and a beta of 0.98. Chord Energy Co. has a 52-week low of $107.24 and a 52-week high of $190.23. The stock's 50 day moving average price is $117.12 and its 200 day moving average price is $129.64. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $1.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.51%. Chord Energy's payout ratio is currently 25.75%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CHRD. Morgan Stanley initiated coverage on Chord Energy in a research note on Friday, January 10th. They issued an "equal weight" rating and a $158.00 target price on the stock. UBS Group lowered their target price on shares of Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a research note on Monday, December 9th. Piper Sandler cut their price target on shares of Chord Energy from $194.00 to $193.00 and set an "overweight" rating for the company in a research note on Wednesday, January 15th. Mizuho decreased their price target on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Finally, Wells Fargo & Company dropped their price objective on shares of Chord Energy from $176.00 to $175.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $173.08.

Insider Activity

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares in the company, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company's stock.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.